Associated Banc Corp Has $7.61 Million Stake in Paycom Software, Inc. $PAYC

Associated Banc Corp reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 23.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,573 shares of the software maker’s stock after selling 19,654 shares during the period. Associated Banc Corp owned 0.13% of Paycom Software worth $7,605,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reinhart Partners LLC. raised its position in shares of Paycom Software by 887.4% during the fourth quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock worth $95,351,000 after acquiring an additional 537,726 shares during the last quarter. Contour Asset Management LLC bought a new stake in Paycom Software in the fourth quarter valued at approximately $60,333,000. Two Sigma Investments LP increased its position in Paycom Software by 228.7% during the 3rd quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock valued at $110,756,000 after purchasing an additional 370,219 shares during the period. Invesco Ltd. raised its holdings in Paycom Software by 28.2% during the 4th quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock worth $248,551,000 after purchasing an additional 343,494 shares during the last quarter. Finally, River Road Asset Management LLC lifted its position in shares of Paycom Software by 481.9% in the 4th quarter. River Road Asset Management LLC now owns 392,403 shares of the software maker’s stock worth $62,533,000 after purchasing an additional 324,970 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Down 0.3%

Shares of Paycom Software stock traded down $0.40 during trading on Friday, reaching $139.16. 560,175 shares of the company traded hands, compared to its average volume of 1,061,893. The firm has a market capitalization of $6.63 billion, a PE ratio of 16.09, a P/E/G ratio of 1.19 and a beta of 0.80. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $248.95. The company has a 50 day moving average price of $134.48 and a 200-day moving average price of $134.29. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.16. The business had revenue of $571.80 million during the quarter, compared to analysts’ expectations of $564.37 million. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $2.80 earnings per share. As a group, equities research analysts expect that Paycom Software, Inc. will post 9.32 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Tuesday, May 26th were given a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.50 annualized dividend and a yield of 1.1%. Paycom Software’s dividend payout ratio (DPR) is presently 17.34%.

Analyst Upgrades and Downgrades

PAYC has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on shares of Paycom Software from $137.00 to $145.00 and gave the stock a “market perform” rating in a research report on Thursday, May 7th. Barclays cut their price target on shares of Paycom Software from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Citigroup increased their price target on Paycom Software from $120.00 to $136.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. TD Cowen lowered their price objective on Paycom Software from $154.00 to $149.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Finally, UBS Group dropped their price objective on Paycom Software from $210.00 to $183.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $159.25.

Paycom Software Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.